Funding arb · Price arb /

ENS

all ENS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.1091%/8h= +119.4% APRpaid last 24h +0.281%

Price spread now: OKX against Kraken Futures−0.128%7-day average −0.097% · you buy dearer than you sell

Net, funding: paid 7d − costs−$253as in the Funding arb table

Net, price: spread back to 7d avg − costs−$94as in the Price arb table

costs, in and out, $10k−$910.907% of the position

Long on Kraken Futures Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−1.625%−$163 on $10k

Price spread, last 4 days (all we have)+0.171%+$17 · spread now −0.128%, 7d avg −0.097%

Together, before fees−1.454%−$145 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.031% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.128% now, against its 7-day average of −0.097%). If the spread goes back, that is −$3 on $10k: about 2 hours of funding at the current rate (+$33 a day). Mind the row above: over the last 7 days funding on this pair cost −1.625%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ENSUSD	6.6465	−0.1062	get 0.0133% / 1h	51m 22s	$90K	$371K	20x
Short	OKX ENS-USDT-SWAP	6.6380	0.0029	get 0.0029% / 8h	1h 51m	$2.3M	$3.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee OKXbpOrdersPrice spread, now −0.128%Rate

Funding earned: $229.06
Price spread: −0.128% → −0.097%: −$3.1
Slippage, 4 orders: −$70.74
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: $135.22
Costs to cover: 0.907%
Break-even: 2.9 days

Slippage from Kraken Futures: live order book, 56 min ago; OKX: live order book, 1 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Kraken Futures live order book, 56 min ago	14.38 bp	24.6 bp −$25	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	3.01 bp	18.5 bp −$19	doesn't fit	doesn't fit	doesn't fit

ENS on 15 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_ENSUSDlong	−0.1062%	1h	6.6465	long leg	$90K	$371K	20x
ApeX Omni ENSUSDT	−0.1060%	1h	6.6470	+0.008%	$24K	$605K	50x	as long as short
OKX ENS-USDT-SWAPshort	+0.0029%	8h	6.6380	−0.128%	$2.3M	$3.4M	20x
Gate ENS_USDT	+0.0052%	8h	6.6440	−0.037%	$462K	$572K	75x	as long as short
BloFin ENS-USDT	+0.0091%	8h	6.6460	−0.007%	$295K	$80K	20x	as long as short
Hyperliquid ENS	+0.0100%	1h	6.6559	+0.142%	$3.0M	$294K	5x	as long as short
Aster ENSUSDT	+0.0100%	8h	6.6429	−0.053%	$9K	$105K	10x	as long as short
Binance ENSUSDT	+0.0100%	8h	6.6480	+0.023%	$5.1M	$13.6M	75x	as long as short
Bybit ENSUSDT	+0.0100%	8h	6.6340	−0.188%	$5.4M	$3.4M	75x	as long as short
MEXC ENS_USDT	+0.0100%	8h	6.6410	−0.082%	$6.1M	$870K	75x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ENSUSDTM	+0.0100%	8h	6.6490	+0.038%	$1.8M	$119K	50x	as long as short
Bitget ENSUSDT	+0.0100%	8h	6.6400	−0.097%	$2.9M	$1.2M	75x	as long as short
BingX ENS-USDT	+0.0100%	8h	6.6450	−0.022%	—	$7.5M	—	as long as short
Variational Omni ENS	+0.0100%	8h	6.6388	−0.115%	$106K	$9K	—	as long as short
Extended ENS-USD	+0.0104%	1h	6.6469	+0.007%	$3K	$258K	10x	as long as short